Fianna Fáil Deputy Robert Troy says while he welcomes progress being made by the Cost of Insurance Working Group, "more practical and tangible measures must be identified" by the group to help alleviate the pressure motorists are under.
Deputy Troy was commenting as ratings agency Standard and Poor's predicted further premium increases of between 10 and 15 per cent by the middle of 2017.
"While undoubtedly much work is taking place by the working group and its four sub-groups, the proof of the success of this endeavour will be seen when they put forward their suggestions for reducing the cost of insurance for Irish motorists," Deputy Troy said.
"Whatever the working group puts forward must have at its core practical measures that help reduce premiums in the short term. Irish motorists have seen ridiculous increases in the cost of motor insurance over the past year. In many situations, their premiums have doubled causing significant financial pressure on drivers and their families.
"This isn't sustainable, and Irish motorists expect this working group to come back with tangible and practical solutions to lowering the cost of insurance."
